Senate Probes Commercial Banks Over Illicit, Excess Charges       The Senate on Wednesday mandated its Committee on Banking, Insurance and Other Financial Institutions to investigate the alleged illicit and excess bank charges by commercial banks operating in the country. The upper chamber urged the Central Bank of...

CBN Gives Banks 24hrs To Reverse ATM ‘Failure’     The Central Bank of Nigeria (CBN), has revised timelines for reversals and/or resolution of refund complaints on electronic channels. The revised timelines will take effect from June 8, 2020. According to a statement issued in Abuja yesterday, the apex...

LAGOS—The Central Bank of Nigeria, CBN, yesterday, directed banks operating in the country to accept deposit of cheques into savings account and to begin to embed Bank Verification Number, BVN in payment cards. The CBN, in a circular signed by Director, Banking & Payments...